Hazic Investments
Los Angeles, CA, USA
Los Angeles, CA, USA
OUR SERVICES
Interim CFO / Controller (Debt Management, Financial Planning and Analysis, Cash Flow, Manage Taxes, Manage Audit)
We serve as a part-time Chief Financial Officer and Financial Consultant for clients. We do all the things a CFO would typically do for a fixed monthly fee, depending on the volume of business activity and scope of work.
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What kind of accounting services do you provide?
Fund Accounting
1. Establish, maintain and review the administrative and procedural processes.
2. Establish, maintain and review the general ledgers.
3. Establish, maintain and review the investors’ capital accounts and record all transactions including subscriptions and redemptions.
4. Assess management and incentive fees, calculate net asset values and effect all appropriate allocations, including new issue carve-outs, in accordance with the Fund’s operating documents as provided to the Administrator.
5. Coordinate, execute and giving third-party approval for all cash movements in accordance with the Funds’ offering documents. Provide cash reconciliations monthly or upon request.
6. Performed Monthly: Load transactions in the portfolio accounting system. Maintain the security master files including monitoring and processing of corporate actions. Obtain market valuations from the appropriate pricing sources and value the investments in accordance with the Fund’s operating documents. Reconcile positions and cash per the portfolio accounting system to the broker(s)/custodian(s) records. Provide reporting including performance and exposure reporting.
7. Obtain market valuations from the appropriate pricing sources and value the investments in accordance with the Fund’s operating documents.
8. Determine and periodically monitor the Fund’s income and expense accruals.
9. Generate the financial reporting package as of each period-end including the Statements of Financial Position, Profit and Loss, Changes in Capital and Changes in Investor’s Capital.
Investor Servicing
1. Generate, for each period end, an investor capital statement for each investor and distribute via mail, email or website as requested by the Fund.
2. Distribute the annual financial statements and K-1s to investors via mail, email or website, as requested by the Fund.
3. Prepare and distribute subscription/redemption confirmations to investors in a timely manner.
4. Process new investor subscriptions, which shall include (i) inputting investor information from subscription documents into system for investment tracking and allocation purposes, and (ii) sending acceptance letters to new investors.
5. Process redemption requests made to the Fund, which shall include (i) receipt from the Fund of redemption requests from investors and inputting into system for tracking and allocation purposes, and (ii) coordinating the calculation of holdback amounts.
6. Review subscription agreements for reasonableness; provided, however, the Fund remains solely responsible for determining investor eligibility; send approval notices to investors as instructed by the Fund, if applicable.
7. Oversea AML by third party.
Audited Financial Statement Preparation
1. Coordinate and oversee the annual audit of the Funds’ financial statements.
2. Conduct stages of audit planning and coordination.
3. Provide updates for new accounting and reporting requirements and their applicability to the Funds’ financial statements.
4. Prepare work papers and schedules for auditors.
5. Prepare annual financial statements, footnotes, and report drafts.
6. Act as liaison between auditors and the Fund on audit issues.
Additional Services
1. Tax coordination
2. LPA assistance
3. DDQ assistance
4. PPM assistance
5. Fund Insurance selection
6. GIPS compliance assistance
Management Company Accounting / Bookkeeping
1. Banking
2. Quickbooks accrual accounting
3. Manage payroll vendor
4. Management reporting
5. Invoicing and Bill payments
Why is it so important for businesses to hire a great accountant?
Importance of Fund Administrators
Having a hedge fund administrator for your fund is extremely important in today’s constantly changing hedge fund environment. A hedge fund administrator does not manage your portfolios, trade or research, develop products, raise capital, or manage client relationships. These functions are the core functions of your business that tend to be out-sourced infrequently. A hedge fund administrator services your clients and investors; supports you administratively and operationally; and provides you financial, tax and compliance reporting. This includes audits and tax coordination; compliance services such as anti-money laundering and know-your-client procedures required by the Patriot Act, and middle office services. These functions are critical to the successful daily operation of your fund and investment adviser.
After they start a hedge fund, many fund managers find they are in over their head. In-sourcing requires you to hire sufficient support staff with the necessary skills and experience, pay their salaries and benefits, provide necessary infrastructure (office space, hardware and software), and supervise their work. In-sourcing also makes you directly responsible for correct and timely performance of these duties and compliance with all rules, regulations, and laws, especially the recently enacted anti-money laundering and know-your-client laws. The other choice would be to simply outsource these functions and have your fund pay a hedge fund administrator for all administrative and operational support. Out-sourcing requires the hedge fund administrator to provide necessary staff, infrastructure and supervision of the work performed. You can contract with a hedge fund administrator for correct and timely performance of these duties, and compliance with all applicable rules, regulations, and laws.
A wide variety of service providers exist for your fund and investment adviser. Most service providers fall into two broad categories: fund accounting or fund administration. Fund accounting provides you with financial or GAAP reporting, some tax reporting for your fund, and occasionally compliance reporting, typically billed on a time, materials and systems usage basis. Fund accounting is only a reporting service. You will still be required to perform most administrative, operational and client servicing functions for your fund. Fund Administration provides you with client servicing, administration, and accounting for your fund, typically billed on an asset-based fee basis subject to monthly minimums. hedge fund administrators vary widely in the amount and type of client servicing, administration and accounting they provide. You typically will retain responsibility for some functions in each of these areas. Hedge fund compliance with all rules, regulations, and laws, especially the recently enacted anti-money laundering and know-your-client laws, can become an onerous burden. You can determine the amount of compliance you want your hedge fund administrator to provide for your fund.
A hedge fund administrator greatly reduces expenses and overhead for your fund and your investment adviser by eliminating the need for a larger administrative and operational staff. When your fund hires a hedge fund administrator, your fund pays the “full freight” or the full cost of their own operations. An outsourcing arrangement with a hedge fund administrator also enables you to purchase skills, talents and systems that you may find prohibitively expensive to purchase through your investment adviser. A hedge fund administrator will bring you access to people trained, and often certified, in accounting, finance and operations. A hedge fund administrator will also provide access to accounting, operational and client servicing systems that may be beyond the means of your investment advisory.
Your investors will appreciate the independent third-party verification of your funds’ operating results provided by a hedge fund administrator. A hedge fund administrator can also provide you custodial services to safeguard the investor monies and the assets of your fund. Professional accounting and finance individuals with investment industry experience will service your investors. These individuals bring a wealth of administrative and operational experience to the table. Hiring a hedge fund administrator increases the size of your operations by providing a virtual administrative and operations staff. Your investors will pay approximately one basis point (0.01%) of return per month for the benefits of these services, a cost, which will barely reduces the returns of your fund, but will greatly enhance the service.
So to sum up, a hedge fund administrator will:
* Perform your critical, non-core administrative and operational functions,
* Reduce the operating cost of your fund and investment adviser,
* Relieve you of necessary and time consuming operational duties,
* Provide independent third-party verification and reassurance of your fund results to your investors,
* Provide access to accounting, finance and operations professionals and systems you may not be able to afford.
In short, a hedge fund administrator provides support services to your investors and your business.
What do you love most about your job?
It allows me to help people make better financial decision making.
What inspired you to start your own business?
Hard work pays off. My hard work should pay off for me and my clients.
Why should our clients choose you?
Here’s why people prefer us to our competitors:
We offer quality and affordable services.
We deliver prompt and quality work
With my many years of experience in Financial Consulting professional make me your prefer option.
We’ve been tested and trusted by thousands of satisfied customers
We are very effective and totally focused on your success.
We maintain close relationship and good communication with our clients.
Communication: We maintain close relationship and good communication with our customers. In fact, your schedule is our schedule. We return all calls and emails promptly. We pride ourselves in setting and meeting realistic deadlines.
And most importantly 100% GUARANTEED!
